FORECLOSURE- Do we have ANY rights as the homeowner, in ALABAMA?

[Alabama=Screwed]

We live in Alabama.
I've been told by four different Alabama attorneys on four different occasions, that the courts in Alabama favor business over individuals.

Having heard that over and over, and knowing absolutely nothing about foreclosure, I'm wondering if we have ANY chance AT ALL of preventing the bank that services our mortgage from taking our home, after receiving a letter from a law firm saying the bank is foreclosing.

As I stated above, I know nothing about foreclosure, so I have a lot of questions. I won't ask them all in this post, but if there is a limit, or I simply ask too many, I apologize.

Will we even be ALLOWED to present any kind of defense that COULD stop the foreclosure?

If we ARE allowed to tell our side of it, and could present undeniable evidence of Predatory Lending and a scam that's common and well known in the lending industry, that may be, or at least, borders on fraud, could or would it stop them from taking our home?

What if there is evidence showing that through deceptive means, they manipulated and intentionally caused circumstances that over the four month period prior to closing the loan, increased the amount we needed to borrow by nearly fifty thousand dollars, making the mortgage payments beyond our means? And that it was their intention to foreclose before the loan was even closed? Or would something of that nature even have any bearing or relevance to a foreclosure?

If we aren't allowed any defense in the foreclosure procedure, is there any way we can get them into court to present the above mentioned evidence and stop it that way, if the contract contains an Arbitration agreement?

I sent a certified letter to the law firm asking for "Proof of the debt" immediately after receiving their letter. What can I expect them to send me?
Is there any chance it will contain the FOUR "Truth In Lending" statements we were told to sign all at the same time, each one with a different interest rate from 7% to 10% that we weren't given copies of? Or would that even be of any help?

Do we have the right to get a copy of our file(s) from the bank servicing our loan and/or the mortgage broker our loan originated with, whom the letter says the bank is foreclosing on behalf of?

Any answers or any help you can provide would be appreciated more than you could ever know! (Unless of course, you too have been faced with loosing your home and had no where else to go.)

I'm sure you don't hear it nearly enough, so let me say THANK YOU to all of you who give the precious gift of your TIME, and knowledge so freely to us who are in such need of it.
Here's to you!

Health, wealth and happiness to you and yours.

Joe
in Alabama

[lcannister]

Might want to first stop with the info you have gleaned from less that ethic websites.

You have the option of paying the arrearages and reinstating your loan or lose it.

they manipulated and intentionally caused circumstances that over the four month period prior to closing the loan, increased the amount we needed to borrow by nearly fifty thousand dollars, making the mortgage payments beyond our means?

And then they, what, held a gun to your head to make you sign a contract where YOU knew going in that you could not afford it?

Time for a reality check you made mistakes and now you think they will magically go away but can you afford the payments even if the loan is reinstated?

So tell us aside from giving you what you wanted and when you WANTED it and then expecting you to repay the loan as agreed what were the exact predatory lending practices. You may have a case of complete fraud reportable to the FBI.

Fooling around trying to find solutions may well lose the home for you, if you want to keep it that is.

I sent a certified letter to the law firm asking for "Proof of the debt" immediately after receiving their letter. What can I expect them to send me?

Well I suspect nothing or a copy of your loan agreement.

[LindaP777]

No offense, but you were real detailed in telling us what "they" did wrong. What did you do wrong? Did you not agree that is they gave you the money, you would pay it back by making regular payments? Did you do that? Do you still owe the money?

[Alabama=Screwed]

And then they, what, held a gun to your head to make you sign a contract where YOU knew going in that you could not afford it?

Of course not, I wouldn't have signed it if that's all they did.

Time for a reality check you made mistakes and now you think they will magically go away

Yes, that I made mistakes is reality.
That I think they will magically go away, however is NOT.
If I thought that, I wouldn't be this worried and scared
and unable to sleep (hence the time of my original post)
nor would I be here seeking a way to fix them, or delay
the foreclosure until I can reinstate it.
What did I say to give you THAT impression?

can you afford the payments even if the loan is reinstated?

Yes! I'm sorry, I meant to mention that and thought
that I did. After just rereading my post, it's obvious to
me how tired I was and how unclear my thinking was
while writing it, eventho I still haven't slept yet.

So tell us aside from giving you what you wanted
and when you WANTED it

We got neither WHAT we wanted, and certainly
not WHEN we wanted it! Where are you GETTING
this stuff from!? Please cut and paste what I said
that could possibly give you that idea, showing
me and everyone who reads this, that you're NOT
just a JERK.

Fooling around trying to find solutions may well lose the home for you,

Sir/madame, I'll waste no more of my time on
someone who considers trying to find solutions
to serious problems "Fooling around"!
NOW BE GONE! Before you embarrass yourself further.

--------------------------------------- 0 ---------------------------------

No offense, but you were real detailed in telling us
what "they" did wrong.

You're right. I see that in rereading my post. However
that was not my intention. My intention was to ask
questions that might stop or delay my family and
myself from becoming homeless before I receive
back payments due me from Social Security disability
that will allow me to reinstate the loan.

What did you do wrong?

I was trusting and ignorant and as a "first timer" didn't
do enough home work.
Especially in the area of all the different ways lenders
can take advantage of uneducated buyers. But my biggest
mistake was being unaware of how elaborate, sophisticated
and fool proof "Con games" can be. It was over a year
before I even KNEW what had happened. And then, only
realized it while complaining to the Vice President of the
mortgage broker firm about what his employees had done
at the branch where we did business. I only got a few
sentences out before he immediately reconized it as a
well known scam and cut me off saying: "You're not going
to try to tell me MY MEN pulled that old "Put 'em in the hole
so they CAN'T say no to the loan" scam on you, are you?"
I was speechless for several moments when I realized
what he had just said described EXACTLY what they
had done. I later found out that thousands of people
have fall prey to that scam, it's nearly infallible on first
time buyers and and a large percentage of those people
are STILL unaware of what happened.

Did you not agree that is they gave you the money, you would pay it back by making regular payments? Did you do that?

Yes, I agreed to make the payments.
Yes, eventho after we both became disabled, we had to
sell our personal belongings month after month until we had
nothing of any value left, we DID make the payments
for almost six years.

Do you still owe the money?

Yes, and now that we both get Social Security checks every
month we are ABLE to and WERE making the payments
right on time each month. However we were UNable to
pay the several months that we missed before being
approved for disability. But the bank allowed us to
continuing making until I told them it was just about
time for me to get my disability back payment check
which would be several thousand dollars, and I would
be able to bring our loan current, and with us both having
guaranteed steady incomes should never have any
problem making the payments again. That's when they
suddenly sent my payment back to me saying it couldn't
be posted to our account because it was the wrong
amount, saying it had to be for the total amount of
of payments we had missed. A month later we got the
foreclosure letter.
If it makes no sense to you why they would DO
that, it's because you believe they don't WANT to take
our home. If you look at from the point of view
that the bank WANTS to take our home, you'll see
it makes PERFECT sense and all the pieces fall neatly
into place.

I've been up all night, looking for info and begging
for help, I'm exhausted. So, if all the
"Holy-than-thou's" sitting out have finished judging
me and STILL think I'm just a "dead beat" looking for a
free ride, so be it.
Maybe someone who doesn't need to judge me first
or jumps to conclusions before getting facts will
help me.
But right now, I've got to get some sleep.
I'm too tired to even proof read or spell check this, deal with it.

[Ozark_Sophist]

The bank doesn't want your home. It's not personal.
How long have you waited on your backpay?

[Alabama=Screwed]

The bank doesn't want your home. It's not personal.
How long have you waited on your backpay?

Hello Ozark, It sure is good to "see a friendly name" <chuckle>
I don't believe it to be personal, that's not what I'm saying.

But having been in business management for a lot of years,
and even a credit manager for a few years while "climbing the ladder",
their actions make no sense to me at all, EXCEPT when
viewed from that angle. Maybe I'm unaware of new
strategies. Can you shed some light on why they seem
to be doing things completely opposite of what makes
good business sense?

I've been waiting for an A.L.J. hearing on my back
payments for 8 months. After filing two "Dire Need" letters
asking for an expedited hearing date and asking my
congressman to get involved, I got a letter from my
attorney the first of this week saying he got a letter
from "Hearings and Appeals" saying my case was being
worked up. He told me to get my paperwork together
and it's time for us to sit down and go over it, however
he's out of town until the 18th and the 30 days on the
foreclosure is up on the 30th. So it's looking like I'm
going to loose the "Time Race."

If your next question is: "Is my attorney aware of my
situation, the answer is:
Only for the few minutes following the times that I
remind him. Which is every time we communicate.
After telling him six times, three of them in writing,
the last time I reminded him, he asked me: "Joe,
did you make me aware of this prior to just now?"

Do YOU know if we will be allowed to do or say
anything that could delay or stop the foreclosure,
or will the sheriff just show up one day and start
putting our furniture out in the front yard?

I'd NEED some kind of idea of what to
expect. The fear of the "unknown" is really
getting in the way, and the stress from it
is starting to take it's toll on me.

[Ozark_Sophist]

Why were back payments not granted at the same time you qualified for SSDI?

Even if the ALJ hearing was held before the 30th, it takes some time to actually
receive the payment if you experience a successful outcome. I'm sorry, but honestly
I would not look to the backpayment to rescue you before foreclosure.

Yes, there has been a large number of loan problems. Congress has initated
hearings to look at the issue because it has started to effect a significant number
of their constituants. I wouldn't look this way for help because the loan industry is
big money and has big money lobbiests.

Proving deceptive loan practices and providing successful outcomes in the legal morass takes time and money (two commodities you lack) and often without satisfactory results. If you have the energy, you could persue this but it will not save your house.

Unless you can come up with the money (possible borrow against backpayments from
family--not a good thing, but...), I don't think there is anything you can do in the next few weeks.

If the bank is brick and mortar and assuming you haven't burned any bridges with
accusations (although true in your eyes), you could go in with what money you have, you SSDI award letter, the date of your disability, and an estimate of your backpay, you might
get some sympathy (unlikely, foreclosing costs banks money. If they stop now and you
don't come up with the money, they have to go throught the process again).

Lastly, is there a redemption period for foreclosed homes in Alabama?

[lcannister]

sophisticated
and fool proof "Con games" can be.

I am sorry you consider the info you presented to be such that you are not to blame in this so called con game. IF you were conned report it to the FBI. In my experience there are some real unethical people out here in the mortgage file but I also see that Predatory is usually screamed at the top of the persons lungs when they suddenly aren't living up to THEIR obligation such as payments!

If it makes no sense to you why they would DO
that, it's because you believe they don't WANT to take
our home. If you look at from the point of view
that the bank WANTS to take our home, you'll see
it makes PERFECT sense and all the pieces fall neatly
into place.

I am not being a smartarse but pleae tell us what is special about YOUR house that the bank wants it so badly. They do not want your house they want your money and interest you are paying them.

To help others who might read your post and perhaps not fall for the con you did please tell us how you were conned? If this is such a prevalent scheme people need to be aware of the problem and look out for it.

[lcannister]

Call the state agency and verify this info is current but I found this on the Alabama government website

HB424
By Representatives Parker (W), Rogers (J), Payne, Houston, Boothe, Buskey, Hilliard, McClammy, Major, Morrison and Jackson
RFD Banking and Insurance
Rd 1 15-FEB-2001


Under existing law, a person has one year to redeem real property after foreclosure on a mortgage or after a sale pursuant to the execution on a judgment of a court.This bill would increase the redemption period of real property for agricultural, forestry, and residential property to 18 months for a foreclosure on a mortgage dated on or after the effective date of this bill or to a sale by virtue of a judgment rendered by a court on or after the effective date of this bill.This bill would reduce the redemption period of real property for commercial property valued at $2,000,000 or more to 6 months for a foreclosure on a mortgage dated on or after the effective date of this bill or to a sale by virtue of a judgment rendered by a court on or after the effective date of this bill.

It APPEARS you would have up to one year to redeem your foreclosed property but confirm this is current info!

[lcannister]

Here is the website

[url]http://www.alabama.gov/portal/index.jsp[/url]

I simply typed foreclosure redemption period in the search box on the upper right hand side of the site.

Again this is from 2001 so you need to confirm it is still accurate.

Do as Ozark advised go to the mortgage company with a stack of papers and present your case. Ask if they will add the missed payment to the back of the loan. Ask if they will take the regular payments and a percentage of the deliquent payments each month until you are cuaght up.

Do any or all of these today before even more fees are added. You can sit and be scared to death or you can get out and fight for your home.

[lcannister]

A request, could you please decrease the statement under "state" so your posts, and all others, do not have to be scrolled to read. It might make more people read it if they do not have to scroll side to side to read it.

[FlyingRon]

Originally Posted by lcannister

It APPEARS you would have up to one year to redeem your foreclosed property but confirm this is current info!

Unless he gets a whole lot of SSDI lump sum for the back payments, he's going to find it pretty difficult to redeem the property. His credit is hosed.

[Alabama=Screwed]

Why were back payments not granted at the same time you qualified for SSDI?

Although the "Onset Date of Disability" used, by the Disability Determination Service went back to the date necessary for me to receive benefits immediately, it was two years later than the actual date I became disabled. So I spoke with the supervisor of the DDS center that handled my case, and asked why that "Onset Date" was used. He admitted it was an arbitrary date and told me if I filed an appeal it would almost certainly be in my favor. I understoond him to say, under the guidelines DDS has to use, in cases such as mine, an arbitrary date has to be used. (He didn't explain why.) He also added the date used went back as far as THEIR guidlines would permit, but judges aren't bound by those same guidlines and if I appealed the decesion would surely be a favorable one. During our 15 minute conversation, he repeated several time, A L J's have more room and can be more flexable than DDS guidelines allow and a favorable decesion would almost be guaranteed.

Even if the ALJ hearing was held before the 30th, it takes some time to actually
receive the payment if you experience a successful outcome. I'm sorry, but honestly
I would not look to the backpayment to rescue you before foreclosure.

I agree, that's what I was saying when I spoke of, loosing the "Time Race" in my last post.

I believe I've made a friend at the bank, through frequent emailings, while in the banks "Loss Mitigation Program". I've asked for her help, and she said she would find out who I need to talk to that would have the authority to stop the foreclosure. I also believe she would "go to bat" for us if I asked.

"Speak of the devil!" Got a message, the bank called!

Later,
Joe

[Ozark_Sophist]

So it sounds like you potentially have 18 months of backpay (2 years less 6 month).

[lcannister]

Originally Posted by FlyingRon

Unless he gets a whole lot of SSDI lump sum for the back payments, he's going to find it pretty difficult to redeem the property. His credit is hosed.

And does not like the realistic responses to his/her post! Might be able to get another PREDATORY loan where someone bails him out, with hellish interest rates, then expects payments on that loan.